Sopharma Trading 2010 sales increased 14.4% YoY to BGN 401m compared to domestic pharmaceutical market growth of 9% YoY to BGN 1 877m. The company’s market share for 2010 amounted to 21.7% according to data by IMS Health. Gross profit improved 5% to BGN 25.3m with gross margin slightly declining to 6.3%. Total revenues for the period amounted to BGN 403.6m, up by 14.1% YoY. EBITDA rose 16.4% YoY to BGN 7m with EBITDA margin at 1.7%. Below EBITDA line depreciation charges added 7.4% to BGN 1.8m and net financial expense came to BGN 0.3m. Net profit for the period was up 67% to BGN 6.4m boosted by BGN 2.2m of negative goodwill following the merger of Sopharma Trading and Sopharma Logistics. In Q4 2010 alone sales grew by 20.3% YoY to BGN 112.4m while net income fell 48.3% to BGN 1.1m. On the balance sheet trade receivables declined 2.8% to BGN 91.8m while the level of interest-bearing liabilities was sustained at BGN 44.8m.